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Not everyone wants to commit to making a gift in their wills or estates. Some prefer the increased flexibility that a beneficiary designation provides by using:
It is very simple to name Cedars-Sinai as a beneficiary. Start by requesting a change-of-beneficiary form from your policy administrator or download the form from your provider's website. Make your desired changes and return the form to establish your gift.
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Robert and Carol treasure the financial help they've been able to give their children and Cedars-Sinai over the years. The couple recently updated their will to leave stocks and real estate to their kids. They left Cedars-Sinai a $75,000 IRA to be transferred following their lifetime. Because Cedars-Sinai is tax-exempt, all $75,000 will help support our mission.
If Robert and Carol had left the IRA to their children, approximately $18,000* would have gone to pay federal income taxes—leaving only $57,000 for their family's use. Robert and Carol are happy knowing they are making the most of their hard-earned money thanks to their updated estate plan.
*Based on an assumption of a 24 percent marginal income tax bracket.
Legal name: Cedars-Sinai Medical Center
Address: 6500 Wilshire Blvd., Suite 1600, Los Angeles, CA 90048
Federal tax ID number: 95-1644600
Download our FREE guide Beneficiary Designations: Easy Ways to Leave Your Legacy.